Nordic countries were ranked among the top five digital economies in the world in the latest Digital Evolution Index (DEI).

But the report also raised concerns about the Nordics losing momentum in their digital development.

The DEI 2017 study, which was conducted by Mastercard and the Fletcher School at Tufts University, placed Norway, Sweden, Denmark and Finland first, second, fourth and fifth, respectively, when it comes to the state and rate of digital evolution. Switzerland took third place.

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Digital Planet is an interdisciplinary research initiative of The Fletcher School's Institute for Business in the Global Context. Dedicated to understanding the impact of digital innovation on the world, Digital Planet provides actionable insights for policymakers, businesses, investors, and innovators.